TechFlow news, October 28 — According to Bloomberg, Vienna-based cryptocurrency exchange Bitpanda is working with Citigroup and JPMorgan Chase to explore multiple growth options, including an initial public offering (IPO). Sources familiar with the matter said the company leans toward listing on the Frankfurt Stock Exchange, with a potential valuation reaching $4 billion or higher.
Founded in 2014, Bitpanda primarily offers retail trading services for cryptocurrencies, stock derivatives, and commodities. The platform raised $263 million in August 2021 from investors including Valar Ventures backed by Peter Thiel, billionaire financier Alan Howard, and REDO Ventures, achieving a valuation of $4.1 billion at that time.
Sources noted that if Bitpanda decides to move forward, the transaction could be completed in 2025. Citigroup and JPMorgan declined to comment, while Bitpanda did not respond to requests for comment.
